New York Convention. Graffi, The Law Applicable to the Validity of the Arbitration Agreement: A Practitioner’s View, in: Ferrari/Kro¨ll (eds), Conflict of Laws in International Arbitration, Sellier 2011, p. 19; Xxxxxxxx, The Parties to the Arbitration Agreement, in Liber Amicorum en l’honneur de Xxxxx Xxxxxxxx, Editions Xxxxxx 2011, p. 323; Xxxxxx, Xxxxxx, Impecuniosity of the Parties and its Effect on Arbitration – An English Perspective, in: German Institution of Arbitration (ed.), Financial Capacity of the Parties, A Condition for the Validity of Arbitration Agreements?, Xxxxx Xxxx 2004, p. 107; Kro¨ll, 50 Jahre UN-U¨ bereinkommen u¨ber die Anerkennung und Vollstreckung ausla¨ndischer Schiedsspru¨che – Standortbestimmung und Zukunftperspektive, SchiedsVZ 2009, 40; Kro¨ll, The Arbitration Agreement in Enforcement Proceedings of Foreign Awards, in: Kro¨ll/ Mistelis/Perales Viscasillas/Xxxxxx (eds), International Arbitration and International Commercial Law: Synergy, Convergence and Evolution, Liber Amicorum Xxxx Xxxxxxxx, Kluwer Law Interna- tional 2011, p. 317; Ku¨hner, Das neue xxxxxx¨sische Schiedsrecht, XxxxxxxXX 2011, 125; Xxxx/ Xxxxxx, Inoperative Arbitration Agreements Under the New York Convention, in: Gaillard/Xx Xxxxxx (eds), Enforcement of Arbitration Agreements and International Arbitral Awards – The New York Convention in Practice, Xxxxxxx May 2008, p. 297; Xxxxxxx, Arbitrating in the Financial Crisis: Insolvency and Public Policy versus Arbitration and Party Autonomy – Which Law Governs?, 2(2) Contemp. Asia Arb. J. 217 (2009); Xxxxxxx/Xxxxx, Estoppel in France and Germany: The Introduction of Foreign Legal Features in Continental Laws of Arbitration?, 15 NYSBA Int’l Chap. News 25 (2010); McIlwrath/Savage, International Arbitration and Mediation – A Practical Guide, Kluwer Law International 2010; Xxxxxx, Das Europa¨xxxxx U¨ bereinkommen
New York Convention the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10th, 1958; Secretary-General: the Secretary-General of the ICSID or the ICC; UNCITRAL Arbitration Rules: the arbitration rules of the United Nations Commission on International Trade Law, approved by the United Nations General Assembly on December 15th , 1976.
New York Convention. The Convention on the Recognition and Enforcement of Foreign Arbitral Awards otherwise known as New York Convention was adopted by the United Nations Conference on International Commercial arbitration in 1958. This is the most important international treaty relating to international commercial arbitration which Nigeria acceded to on 17 March 1970. Until the promulgation of the Arbitration and Conciliation Act in 1988, there was no legislative enactment covering that convention in Nigeria. This is an improvement on the Geneva Convention of 1927 because it provides a simple standards and adequate procedure of procuring recognition and enforcement of foreign arbitral awards.24The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards is captured in the second schedule to the Arbitration and Mediation Act 2023.25
Article 1:1 provides that: “This convention shall apply to the recognition and enforcement of arbitral awards made in the territory of a state other than the State where the recognition and enforcement of such awards are sought, and arising out of difference between persons, whether physical or legal. It shall also apply to arbitral awards not considered as domestic awards in the State where their recognition and enforcement are sought.”
